Participated · Seed · Jan 2024

DayaTani is an agritech service provider serving farmers in Indonesia, focused on horticulture and staple crops. It offers financing, procurement of planting supplies, and purchase of agricultural products for farmer groups. The company also provides agronomic support including soil management, irrigation and agricultural disease monitoring. DayaTani announced it had raised a $2.3 million seed round. The round was led by KBI Investment and Ascent Venture Group, with participation from Northstar Ventures, BRI Ventures and Gentree Fund.

Participated · Series A · Mar 2023

Broom’s core product is Buyback, a temporary car sale service with a repurchasing option that provides short-term working capital and enables dealer-to-dealer trading through its app. Launched in 2022, Buyback is designed to optimize inventory turnover and make dealer inventory management more efficient; the company says dealers using the platform typically triple inventory size, sales and profitability. Broom focuses on empowering existing used-car dealers in Indonesia (its primary market) and has soft-launched an offline showroom to showcase dealer inventory to end customers. The startup plans to build an intelligence model for assessing car quality and to diversify its product offering. Broom employs 120 people and says more than 5,000 used car dealers use its platform, contributing approximately 30.6% of new automotive sales in Southeast Asia. The used car market in Indonesia is estimated at $65 billion and is expected to reach $70.3 billion by 2027, which the company cites as market opportunity. Broom offers a single platform that helps used-car dealers digitize business processes, manage inventories, access financing, and deploy sell-side tools. Its product suite includes operational enhancements, online sales enablers, and short-term financing facilitated through partnerships with financial institutions. The company partners with lenders to provide productive financing that uses inventory as collateral and enables fast approvals. Broom reports a network of 2,000+ used-car dealerships in the Jabodetabek area and has partnerships with institutions such as BRI Finance and BRI Insurance. The founding team combines mobility and dealership experience, including a former Go-Fleet COO and a large BMW dealer owner. Broom plans to use new funding to improve customer experience with tech-based products, expand into major Indonesian cities, and double its team by the end of 2022.

Participated · Seed · Sep 2022

SerMorpheus offers a user-friendly platform for businesses to create, mint and sell NFTs while allowing end users to buy and trade digital assets using rupiah. The platform has been used by about 27,000 people to claim tickets, access exclusive fan perks, and obtain memberships, and the company has manually onboarded 25 businesses including Indonesia Comic-Con. SerMorpheus takes a 5–10% cut on NFTs minted on its platform and charges a 2% fee on secondary sales. The startup has a team of roughly 30 people and plans to spend the new capital on building out infrastructure and hiring across all functions. Its product roadmap focuses on automating onboarding to make creation as simple as a Facebook page and standardizing smart contracts and the types of benefits creators provide to end users.

Participated · Series A · Aug 2022

Founded in 2019 and headquartered in Jakarta, Majoo offers an integrated SaaS suite for Indonesian MSMEs including online POS, inventory management, accounting, employee management, CRM, business analysis and marketplace selling tools. The company has acquired more than 35,000 MSME customers and processed over 166 million transactions worth $970 million across more than 600 cities. Majoo operates tech offices in Malang, supports teams in 60 cities, and has sales representatives in over 100 cities. The product roadmap emphasizes deeper technology development and broader integrations to support merchants across industries such as F&B, barbershops, laundromats and convenience stores. The company plans to use new funding to expand customer reach, form strategic partnerships, accelerate market penetration and continue its mission to help Indonesia’s MSMEs evolve. Majoo offers an integrated, super-app SaaS business solution for Indonesian micro, small and medium enterprises, combining Online POS, Accounting, Inventory Management, Employee Management, CRM, Business Analysis, Online Order and an Owner App. The company says it serves customers across more than 600 cities, supports teams in 60 cities and has sales representatives in over 100 cities, with more than 300 employees. Since launch Majoo has acquired over 25,000 active merchants, reports best-in-market 12-month retention and registered 250% growth during the pandemic. Majoo targets the broader market of 60 million Indonesian SMEs and runs 24-hour SME support plus dedicated sales support in more than 60 major cities. The company plans to use new funding to accelerate product development (including an instant online store and marketplace integration), improve market penetration, and recruit across growth, product, and engineering teams. Majoo started as a point-of-sale (POS) solution and has expanded into an end-to-end SaaS platform for Indonesian MSMEs, adding e-commerce features, online payments and integrations with GrabFood, Tokopedia and Shopee. The company says its app has grown 85% year-on-year and serves over 20,000 active merchants with best-in-market 12-month retention. Majoo has processed over 80 million transactions worth $600 million across more than 600 cities in Indonesia. It partners with financing providers such as BRI to help merchants access working capital by digitizing financial reporting. With new product development focused on an instant online store and further feature rollouts, Majoo aims to deepen market penetration among traditional offline businesses moving online. The company plans to expand its team and reach more cities in Indonesia by the end of 2022.

Participated · Series A · Jun 2022

Mapan digitized the traditional Indonesian arisan (rotating savings and credit associations) into a digital product called Mapan Arisan, and also operates a marketplace (Mapan Mart) and a bills/payment feature (Mapan Pulsa). The service is focused on low-income users—mostly women—and enables groups to pay for goods and services instead of cash, with group sizes starting at five members. Mapan monetizes via the margin between its selling prices and supplier purchase prices and offers leader incentives and cashback through its Mitra Usaha Mapan (MUM) program. It currently claims more than three million members and about 250,000 MUM leaders, and is available in Java, Bali, Sumatera, Nusa Tenggara and Sulawesi. The company plans to expand into the rest of Indonesia and aims to make Mapan Arisan available to 10 million households by 2026. Mapan was founded in 2009 and recently appointed Ardelia Apti as CEO.